Morrison vow

SIR Ken Morrison pledged to stay at supermarket group Morrisons for at least another year today in order to see through the troubled integration of Safeway.

However, the group sought to soothe shareholder concerns on the day of its annual meeting by saying that Sir Ken, who is executive chairman, had stepped down from day-to-day decision-making at the firm.

The company also said sales had been encouraging in recent weeks, with like-for-like sales across the group 5.4per cent higher in the first 15 weeks of the year against a 4.1 per cent hike in the first six weeks.

Dairy gloom

INVESTEC analyst Nicola Mallard said profits from Dairy Crest's milk business could fall by as much as £13m this year before some recovery is seen in 2007.

The decline in households taking doorstep deliveries continued although the impact of this was countered by price increases, canvassing efforts and sales of other products such as juice, organic fruit and vegetables.

GUS share drop

GUS shares fell as much as four per cent today as investors reacted with dismay to the decision not to demerge Experian immediately.

Investec analyst Mark Charnock said: "The lack of a timetable (and indeed some of the comments suggesting there was no hurry to do so) is somewhat disappointing."